Thursday, June 25, 2015

The Roosevelt Island Operating Corp (RIOC) Board Of Directors will be meeting later this afternoon. According to RIOC:

PLEASE TAKE NOTICE that a Board of Directors meeting will be held on Thursday, June 25, 2015 at 5:30 p.m. at the Cultural Center Theater, 548 Main Street, Roosevelt Island, New York, for the purpose of transacting such business as shall come before the Board.
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The Open Meetings Law of the State of New York requires that all public bodies conduct meetings, convened for the purpose of officially conducting public business, in a manner open to attendance by the general public to observe and listen.

The Roosevelt Island Operating Corporation of the State of New York ("RIOC") is a public benefit corporation and a political subdivision of the State of New York. RIOC was created by the New York State legislature, in 1984, to take responsibility, pursuant to a General Development Plan (“GDP”), for the development and operation of the 147 acres comprising the former Welfare Island, located in New York City's East River. RIOC assumed the role of the New York State Urban Development Corporation as lessee under a 99-year Master Lease (running until 2068) from the City of New York.

The GDP, which has been amended from time to time, provides for the development of housing, shops and community facilities for a mixed income, handicap accessible, residential neighborhood. As an island community, Roosevelt Island requires specialized operations and capital infrastructure maintenance such as an Aerial Tramway, a comprehensive garbage compacting system, and seawall improvements. RIOC supplements the very basic services provided by the City of New York, and provides specialized operations and capital improvements.

Pursuant to its enabling legislation, the RIOC Board of Directors is composed of nine members including the Commissioner of the New York State Division of Housing and Community Renewal, who serves as the chair; the New York State Director of the Budget; and seven public members nominated by the Governor of the State of New York with the advice and consent of the New York State Senate. Of the seven public members, two members are recommended by the Mayor of New York City, and five members must be residents.

I. Mission Statement

Created by the State of New York as a public benefit corporation, it is the mission of the RIOC to plan, design, develop, operate, maintain and manage Roosevelt Island.

Public Benefit

The Corporation is a political subdivision of the State of New York and additional stakeholders include the City of New York, residents, students, developers and commercial operators, workers and visitors to Roosevelt Island (the “Island”). The Corporation’s stakeholders benefit from the development and preservation of properties and open spaces, as well as sharing in the economic growth of the Roosevelt Island community.

RIOC accomplishes its mission by practicing the following core values, which were adopted December 14, 2011:

Service

We are committed to providing services that enhance the Island’s mixed-use residential community, including public transportation, public safety, public works and parks and recreation.

Preservation
The Corporation promotes the preservation, enhancement, and sustainable use of the Island’s historical landmarks and other structures and open spaces.

Environmental Responsibility
All new development, as well as maintenance of parks, public spaces, and other property under the Corporation’s stewardship strives to employ the latest, cost-effective, high-performance environmental designs and techniques available.

Public Safety
We are committed to protecting and serving the community by providing a safe and secure environment and enforcing local, State and Federal laws.

Communication and Transparency
We are committed to effectively communicating with our stakeholders and undertake to be open, honest and accountable in our relationships with everyone we work with and with each other.

Fiscal Responsibility
We are committed to managing the Corporation’s resources with fiscal responsibility and efficiency through a single comprehensive process that is aligned with the Corporation’s strategic plan, without reliance on State subsidies.

Innovation
We thrive on creativity and ingenuity and strive to employ new, unique and innovative solutions to accomplish our mission.

Partnerships
We strive to develop strategic partnerships with commercial enterprises, nonprofit organizations and institutions in the public and private sectors to meet the needs of our stakeholders and carry out our mission.

Governance
The Corporation ensures good governance through compliance with its enabling legislation, corporate By-laws, General Development Plan, contractual obligations and all applicable Federal, State, and local laws....

RIOC’s total operating revenues for the fiscal year ending March 31, 2015 were $39,210,639. For the fiscal year ending March 31, 2015, operating revenues increased by $15,615,190 or 66.18% over the last fiscal year. This was mainly due to an increase in Residential Fee revenue of $15,309,289 or 1452%, which includes transaction fees primarily from the refinancing of the existing mortgage of Manhattan Park in the amount of $12,600,000, and the assignment of the Eastwood lease to BSREP UA Roosevelt Landing LLC, in the amount of $2,737,658. In addition, other revenues increased by $437,112 or 40% mainly due to an increase in other permit fees including newly initiated construction permit fees of $64,311; T-Mobile Antenna License Fees of $45,497; and eligible FEMA reimbursements of $331,832. The transportation/parking revenue, which is comprised of street parking and Motorgate revenues as well as bus revenues and contractual payments from the Octagon, decreased by $137,895 or 6% in the aggregate. The aggregate decrease in transportation/parking revenue is due to: (1) revenue increases for both street parking of $112,258 or 80.77% and Motorgate of $90,795 or 4.85% due to respective rate increases; (2) an increase of $2,271 or 2% for Octagon bus payments; and (3) a decline of $343,218 or 99.48% due to the elimination of bus fares for on island transportation. The decline in transportation/parking revenue was offset by a decrease in transportation costs in connection with the bus operation of $102,795 or 6.55%. As a result, the net decrease only amounts to $35,500 or 1.4%. Also, declining interest rates led to a decline in interest income of $20,064 or 12.71% as a result of the low-interest rate bearing short-term nature of RIOC’s investments in accordance with the State’s investment guidelines.

RIOC’s total operating expenses for the fiscal year ending March 31, 2015 were $23,295,944 and $22,791,367 for the last fiscal year ending March 31, 2014, including depreciation of $3,518,632 and $3,498,737, respectively. For fiscal year ending March 31, 2015, total operating expenses before depreciation increased by $484,682 or 3% over the last fiscal year, which is due primarily to increases in insurance by $147,129, repairs and maintenance by $129,185, and supplies/services by $183,306. Personal services increased by $798,517 or 8% due mainly to the filling of vacant positions and increases in benefits primarily health and workers compensation insurance. Professional and legal services decreased by $829,468 or 59% due mainly to: (a) the replacement of consulting services for the engineering and public safety departments with full time personnel: and (b) a one-time contractual payment of $410,390 for real estate services in connection with the lease closing of Southtown building #7, which was recorded in FY 2013-14.

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WELCOME TO ROOSEVELT ISLAND

Welcome to the Roosevelt Islander Online!

Roosevelt Island is a mixed income, racially diverse waterfront community situated in the East River of New York City between Manhattan and Queens and is jurisdictionally part of Manhattan. The Roosevelt Island Tramway, which connects Roosevelt Island to the rest of Manhattan, has become the iconic symbol of Roosevelt Island to its residents.

The Purpose of this Blog is to provide accurate and timely information about Roosevelt Island as well as a forum for residents to express opinions and engage in a dialogue to improve our community.